$30.75 Million in Sales Expected for Cemtrex Inc (CETX) This Quarter
Wall Street analysts expect Cemtrex Inc (NASDAQ:CETX) to post sales of $30.75 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Cemtrex’s earnings, with estimates ranging from $29.20 million to $32.29 million. Cemtrex posted sales of $36.77 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 16.4%. The business is expected to report its next quarterly earnings results on Thursday, December 28th.
According to Zacks, analysts expect that Cemtrex will report full year sales of $30.75 million for the current financial year, with estimates ranging from $116.91 million to $120.00 million. For the next year, analysts expect that the firm will report sales of $134.43 million per share, with estimates ranging from $132.10 million to $136.76 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Cemtrex.
Institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP purchased a new position in shares of Cemtrex during the second quarter worth $122,000. Macquarie Group Ltd. purchased a new position in Cemtrex in the third quarter valued at $147,000. Finally, AJO LP purchased a new position in Cemtrex in the second quarter valued at $268,000. 5.50% of the stock is owned by hedge funds and other institutional investors.
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Cemtrex, Inc is a diversified technology company, which provides solutions to industrial and manufacturing needs. The Company provides manufacturing services of electronic system assemblies; provides broad-based industrial services, instruments and emission monitors for industrial processes, and provides industrial air filtration and environmental control systems.
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